Common Types of Boat Insurance

Whether you are considering purchasing a boat or you already own a boat, one of the most important things many people in Austin, TX forget to invest in is boat insurance. Many people make the mistake of assuming that their boat is covered under another insurance policy, such as their home or auto, but this isn’t always the case.  Contacting Southwest Insurance Center about insurance coverage for your boat ensures that should there be a theft or damages associated with the boat, you are covered. So, what are the most common types of boat insurance? Here are the three most common types.

Hull Insurance

Hull insurance is designed to cover damages to the boat as well as any damages to the property of others that is caused by your boat. Hull insurance generally includes the cost of repairs to the boat and if there is a total loss, the hull insurance will pay coverage for the agreed value amount of the boat.

All Risk

An all-risk policy is designed to generally cover any risks that aren’t specifically excluded in the boat insurance policy. For instance, coverage may include pollution liability, ice damage, mechanical breakdown, freezing and reef damage liability. You may also have the option of including medical insurance as a rider to your All Risk policy.

Third-Party Liability

Third-party liability insurance is designed to cover damages to the property of others that is caused by your boat. This type of insurance also typically covers incidental damages due to a liability caused by medical expenses, rescue operations, towing and fuel spills. The rules and regulations for docking in a marina vary, so it’s important to find out if your marina requires a third party marine liability policy.

Just like other insurance policies, there are ways you can save on the monthly premiums. For instance, if you store your boat in a covered shelter, you may qualify for a discount, so be sure to discuss any available discounts with your insurance provider.

To learn more information about boat insurance, residents of Austin, TX should contact Southwest Insurance Center.

Life Insurance Policy: To Take Control Over The Unexpected.

You never know what could happen. This is one of the random aspects that make life beautiful, but it also makes some people very uncomfortable. After all, if you build a life for yourself and your family,  you probably want to know that your hard work will not just fade if you are gone. At Southwest Insurance Center we understand, and we offer quality life insurance to help negate your worry about what could be. We serve Austin, TX and the surrounding areas with quality insurance services for all aspects of your life. 

Life Insurance To Fit Your Needs:

We offer policies that fit your specific needs. For example, if you are a single guy without any assets to insure yet you do not want to leave the expense of an unexpected funeral on your parents or closest relative then you can buy a small policy and leave a designated funeral home as the beneficiary. If you run your own business and have a lot of balls in the air at any given time a policy that covers your business completely with possibly some umbrella coverage to boot will keep your employees with jobs if something were to happen to you. If you are a family man with a steady job that keeps your family comfortable and stable, ensure continued stability with a basic life insurance policy that covers at least your mortgage and enough for your spouse to live on during the aftermath. 

Contact us at Southwest Insurance Center for a life insurance quote that fits your specific needs and allows you to feel a little better about the things you cannot control in life. We serve Austin, TX and the surrounding areas.